Discuss the purpose of a Chapter 7 liquidation case and what may ...

[debasdf]

Discuss the purpose of a Chapter 7 liquidation case and what may lead most debtors to file under this chapter. Briefly summarize the Chapter 7 process.
 
  What will be an ideal response?

Question 2

After the meeting of the creditors, the bankruptcy court schedules a(n) ________ where the bankruptcy court judge will determine whether to accept the debtor's repayment plan.
 
  Fill in the blank(s) with correct word

[sultana.d]

Answer to Question 1

student should discuss the various reasons that led up to a debtor filing for chapter 7, i.e. insurmountable medical expenses, excessive credit debt, extended periods of unemployment, and divorce. The student should discuss, for example, the process in a Chapter 7 case beginning with credit counseling, petition and schedules, appointment of trustee, the bankruptcy estates, and the 341 Meeting.

Answer to Question 2

confirmation hearing

[debasdf]

Great answer, keep it coming

[fatboyy09]

Thanks for the timely response, appreciate it